Question

How does the amount of money in your savings account grow over time?

Banks who are insured through FDIC add money to your savings
account each month.

Money from your checking account is automatically moved into your
savings account every month.

Money in your savings account earns a certain amount of principal each
year.

You can earn interest on the money you keep in your savings

Answer 1

[AI-generated answer — Bot GPT 3.5]

account, which means that over time, your savings will grow as the interest compounds. The more money you have in your savings account and the higher the interest rate, the faster your savings will grow. Additionally, if you consistently deposit more money into your savings account, your total balance will also increase over time.